Joined: Jan '12
Location: Canada
Age: 62 (M)
Posts: 31
i'm so many posts on this, that I have 2 comment. My best advice 2 those out there that r building your bankrolls and then going bust is this. Start cashing out some of your bankroll when it starts accumulating. It's the same principal as a casino, there only credits until you start cashing them in and seeing the results in your hand. It took me quite awhile to finally grasp this, but it has been serving me well since i started applying it. I know that this will work for you also, although i'm not sure that different sites will like this, lol.
Joined: Feb '11
Location: Germany
Age: 31 (M)
Posts: 1859
Cashing out frequently is the wrong way to do it. When cashing out it also means your BR is reduced and thus you will not be able to move up in stakes,which is the general goal of bankroll building.
Joined: Jan '12
Location: Canada
Age: 62 (M)
Posts: 31
well bemyatmplz, i understand your young, and probably have little 2 no financial commitments, but i still stand by my theory. And judging by your post, you've probably gone bust on more than a few occasions, but gl 2 u!
No. He is right, this is not bankroll management. Bankroll management is when you only play stakes according your bankroll. Doing cashouts is something different.
Joined: Jan '11
Location: United States
Age: 42 (M)
Posts: 852
I have to agree with the rest of the Mobsters friend, frequently cashing out online funds & bankroll management are two totally different things. I can assure you that I am neither young, nor without financial commitments. I can also tell you this, I don't have any bankroll online anymore, but I do have a live bankroll, and management of it means not playing above your means, setting rules to follow,building & moving up in stakes, ect. A general rule of thumb is to not spend more than 5% of your bankroll at on any given tournament. Or not playing in a cash game where the buy in is above 5% of your BR & if the cash in play exceeds 20% of your BR cashing out. All of these concepts were of course covered in Chris Fergesun's old FT Challenge where he built an account from 0$-10K in about 9 months I believe it was. That is an example of Bankroll management though friend.
Joined: Nov '09
Location: Canada
Age: 55 (M)
Posts: 2387
Different people have different goals for their bankrolls, so the management needs to be geared towards that. Ever since Black Friday I have been reluctant to have a large bankroll, so as long as I have an adequate roll for playing NL100, my favourite level, I am okay and withdraw the rest as I go. When I will want to go higher I will start to accumulate again. The important thing is to be comfortable at the stakes you are playing, and not start to freak out if you lose a few buy-ins due to bad beats, as well as avoid the Peter Principle.
Joined: Feb '11
Location: Germany
Age: 31 (M)
Posts: 1859
Posted by mindemoyamom: well bemyatmplz, i understand your young, and probably have little 2 no financial commitments, but i still stand by my theory. And judging by your post, you've probably gone bust on more than a few occasions, but gl 2 u!
lol especially @ the last part. judging by your post,you are an idiot. I've deposited 50€ on my 18th bday and never looked back
BeMyATMplz 14.027 $1 $6 18% $12.271 71 PokerStars x
I would like to see yours? Thanks.
Little to no financial commitments? lol @ this as well. The reason for BR building is to build a bankroll that you can play with @ stakes where it's actually worth it. Depositing $100 or so and cashing out $50 once you get to $150 will get you nowhere. Unless you wanna play cheeseburger stakes forever. Once you've built your BR to a BR that can afford stakes that are worth grinding you can do regular cashouts. But yeah,if you wanna be able to afford an extra potato for your meal,your way is probably best...#
Posted by mahdrof: so as long as I have an adequate roll for playing NL100, my favourite level, I am okay and withdraw the rest as I go.
Joined: Aug '08
Location: Canada
Age: 43 (M)
Posts: 658
not trying to play peacemaker but id like to try and explain the ops point. i think it is something different like hoodi says.
um okay. i think he means if you actually see money coming from fantasy online realm into your hands you are less likely to blow it all. The casino reference is valid since casinos use chips and tokens for that reason. My friend always said people online play like chumps because most people never see money they only deposit and to them if they lose it on AA or 23 its all the same because they expect to lose. I dunno if its relative to brm which i think is where the confusion started.
But i will also say to the original poster that bemyatm is pretty wise for a young man. I only learned the other day he is 18 as his posts seemed to come from a older soul. I myself follow a few of his tips and find them useful.
Joined: Apr '09
Location: Australia
Age: 40 (M)
Posts: 6483
Obviously I agree with the general mobster sentiment.
However - I *do* get where OP is coming from, I think he has probably just not worded it very well. I for one, played online for a long time before I ever started actually cashing out. And what's more - the amount you've actually won playing poker isn't you poker account balance- it is this:
Winnings = withdrawals - deposits
Once I started making regular cash-outs, I felt a lot better about my game - this didn't mean regularly cashing out large portions of my bankroll - it was more about occasionally removing 2%-10% of my bankroll - so I was actually making money, not just getting a high score.
I think in regards to the mindset - it's important to realise- if you never cash-out, the money is never real and you never even had it (if you lose it).
Joined: May '09
Location: India
Age: 37 (M)
Posts: 4873
i think the whole bankroll management and idea of "bankroll" varies from person to person, i myself hav never withdrawn from my moneybookers because i never needed that money. i guess ppl should follow whatever works for them
Joined: Jan '10
Location: Indonesia
Age: 60 (M)
Posts: 1875
Posted by hoodi420: I have to agree with the rest of the Mobsters friend, frequently cashing out online funds & bankroll management are two totally different things. I can assure you that I am neither young, nor without financial commitments. I can also tell you this, I don't have any bankroll online anymore, but I do have a live bankroll, and management of it means not playing above your means, setting rules to follow,building & moving up in stakes, ect. A general rule of thumb is to not spend more than 5% of your bankroll at on any given tournament. Or not playing in a cash game where the buy in is above 5% of your BR & if the cash in play exceeds 20% of your BR cashing out. All of these concepts were of course covered in Chris Fergesun's old FT Challenge where he built an account from 0$-10K in about 9 months I believe it was. That is an example of Bankroll management though friend.
Great idea, bemyatmplz also right , because he built career, too. Not only bankroll. So depend on your purpose , condition of your bankroll for gaming ( if short, of course we need save some of our winning ). It's depend ..........
Joined: Nov '09
Location: Canada
Age: 55 (M)
Posts: 2387
Posted by jessthehuman: Once I started making regular cash-outs, I felt a lot better about my game - this didn't mean regularly cashing out large portions of my bankroll - it was more about occasionally removing 2%-10% of my bankroll - so I was actually making money, not just getting a high score.
I think in regards to the mindset - it's important to realise- if you never cash-out, the money is never real and you never even had it (if you lose it).
I agree. When you have withdrawn a nice lump sum a few times, using that cash and not just having it be a number on a computer screen is sweet and makes the whole thing more real. Using that cash motivates me to play better and keep at it, chipping away.
Joined: Jan '12
Location: United Kingdom
Age: 36 (M)
Posts: 1204
i agree this is not bankroll management, what i do is set myself an extra limit, to the limit i need 2 go up to the next limit, i do it as kinda a reward for going up to the next limit. While still havin an ample bankroll for the next limit.
